AGENCY BANKING: Firstmonie tops chat with 180,000 agents nationwide with transaction volume of N22trn

First Bank of Nigeria (FBN) has announced that its agent banking network, Firstmonie, has collectively processed transaction volume in excess of over N22 trillion.

The bank currently has over 180,000 Firstmonie agents spread across 772 out of the 774 LGAs of the country.[irp]

Popularly referred to as “Human ATM”, Firstmonie agents, have been integral to bringing financial services closer to the underbanked and unbanked segments of the society, providing convenient banking services that are easily accessible thereby saving time and travel costs for individuals in the suburbs and remote environments with no access to financial services.

Expressing appreciation to Firstmonie Agents, Dr Adesola Adeduntan, CEO of FirstBank, said, “Since the relaunch of our agent banking scheme in 2018, our Firstmonie agents have played a vital role in bridging the financial inclusion gap in the country, as many more people have been able to undertake various financial and business transactions in cost-effective ways thereby saving a lot of time and money in travelling over long distances for basic banking services.”